Expected Down Payment: $45,000
In the auto service industry, reputation is paramount to success. With 28 years of experience, the owner has trained a crew of technicians and mechanics to be experts in their fields and how to treat customers with respect and fairness.
Although there are several other independently-owned auto shops in the town and its surrounding areas, the auto shop has continued to grow its devoted base of fleet and non-fleet customers. The owner has turned his passion for mechanics into a highly successful enterprise. He has become not only an expert in car mechanics, but has been able to pass his wealth of knowledge to his five employees. His employees have a combined 50+ years of experience and have been instrumental in the continued success of the business.
The shop has now grown into a well oiled machine itself. It grossed an average of over $700,000 in annual revenue over the last four years, with a solid cash flow to the owner. It has a strong customer base and a personalized approach to customer service with a team of 3 employees in addition to the owner. The shop was able to withstand the pandemic far better than its competitors. With a customer retention rate of nearly 90%, the shop was even able to turn a decent profit despite the pandemic’s economic headwinds.
After an almost 30-year run in the automotive repair industry, the owner is looking to call it a day. He’s in search of an interested buyer to buy up the shop. It’s important to him that the buyer has strong ethics, is an honest person, and is dedicated to providing quality service. The owner and his family own the property and would structure a favorable long-term lease with the new owner.His shop is the ideal turn-key business for someone looking to expand locations within the Northern New Jersey area or strike out on their own, just as the owner did almost three decades ago.